Prudential Financial Inc. Has $81.67 Million Stock Position in CSX Co. (NASDAQ:CSX)

Prudential Financial Inc. lessened its position in CSX Co. (NASDAQ:CSX) by 40.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,530,823 shares of the transportation company’s stock after selling 1,692,669 shares during the period. Prudential Financial Inc. owned approximately 0.13% of CSX worth $81,670,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Rehmann Capital Advisory Group increased its stake in CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after purchasing an additional 306 shares in the last quarter. Associated Banc Corp boosted its stake in CSX by 0.6% during the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after purchasing an additional 310 shares during the last quarter. Joel Isaacson & Co. LLC increased its holdings in CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in shares of CSX by 1.0% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after purchasing an additional 313 shares during the last quarter. Finally, West Branch Capital LLC lifted its holdings in shares of CSX by 3.3% in the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after purchasing an additional 332 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the subject of several recent research reports. Susquehanna decreased their price target on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Barclays cut their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada decreased their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, Raymond James restated an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Stock Performance

Shares of CSX stock opened at $29.85 on Tuesday. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.40. The stock has a market capitalization of $56.55 billion, a P/E ratio of 16.68, a PEG ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm’s 50 day moving average is $31.99 and its 200 day moving average is $33.31.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.